INDIA: Reliance to tie up with Li & Fung for private label sourcing?
India-based Reliance Industries is reported to be in talks with Hong Kong's Li & Fung over a sourcing agreement for its private label business, part of a planned chain of retail stores.
Reliance is said to be seeking a collaborator for global sourcing to meet expansion plans set to kick off in 2007-2008.
A deal between the two could include products such as clothing and household goods.
Reliance believes apparel could make up 20% of its revenues in four or five years.
Li & Fung is a leading trader and exporter of high-volume goods to companies including a number of top US retailers.
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